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Investing.com - BofA Securities has lowered its price target on German defense contractor Rheinmetall (ETR:RHMG) AG (ETR:RHM) to €2,080 from €2,085 while maintaining a Buy rating on the stock.
The slight reduction in the price target reflects foreign exchange adjustments, with the firm leaving its broader financial estimates for the company largely unchanged. BofA Securities expects Rheinmetall to report second-quarter sales of €2.55 billion and operating profit of €308 million.
The bank anticipates slower sequential growth in Rheinmetall’s Weapons & Ammunition segment during the second quarter, citing a pull-forward of revenues in the first quarter and negative impact from a factory explosion at the company’s Murcia facility.
BofA Securities believes Rheinmetall remains on track to meet its 2025 guidance and expects order intake to accelerate significantly from September onward, supporting strong free cash flow in the second half of the year with pre-delivery payments.
The firm also anticipates updates on Rheinmetall’s joint ventures with Lockheed, Anduril, and Indra during the second-quarter report, while noting that a new 2030 sales target is more likely to be announced at the company’s Capital Markets Day in November 2025.
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